Thousands of banks just agreed to build their own blockchain
Thirty-nine state banking associations just agreed to build their own blockchain. They are defending against stablecoins draining their deposits, and Scott Melker’s guest this morning pointed out there is no data showing that happens at all.
What has actually been hollowing out community banks is deposit flight to the big banks, plus a generation that will not walk into a branch when SoFi, Robinhood, and Coinbase live on their phone.
He also revises Monday’s read on Strategy, whose net leverage is now near zero, and gets angry about the ECB promising a private digital euro.
Timestamps
00:00 Bitcoin hits a wall at $80,000
01:47 Why the greed reading is bullish, not bearish
03:27 The one level that matters, and Strategy’s leverage hits zero
05:30 What Strive did that Saylor is copying
06:28 Saylor stopped stockpiling bitcoin, started stockpiling cash
07:22 39 state banking associations are building a blockchain
08:31 There is no evidence stablecoins drain deposits
09:31 What is actually killing regional banks
10:15 Japan and Revolut both move on stablecoins
11:53 The ECB says the digital euro will be private
12:43 Why a CBDC is the real surveillance risk
13:47 How Not To Invest: the AI supercomputer Ponzi
#Stablecoins #Banks #Bitcoin #MichaelSaylor #Strategy #CBDC #DigitalEuro #Robinhood #DailyWolf #ScottMelker #YahooFinance
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